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Invest in Maldives

a guide for foreign investors

CTL Strategies ranked in Chambers Global Guide 2024

CTL Strategies has been ranked in the Chambers Global Guide 2024, published by Chambers and Partners.

The new edition of the Global Guide highlighted CTL for its considerable market respect in tax  matters, and demonstrating strength in litigation and corporate services. Among responses received from interviewees, Chamber and Partners quoted that the firm is “able to handle complex matters and provide unbiased legal advice.”

Chambers and Partners is an independent research firm that operates in 200 jurisdictions and is commonly referred to as the “gold standard” in the legal profession. Chambers and Partners publishes rankings and information on the world’s top lawyers and law firms. In-depth interviews with lawyers, in-house counsel for clients, and independent experts were used to compile the rankings.

Recent Updates

Third Amendment to Country-by-Country Reporting Regulation Published

The Maldives Inland Revenue Authority (“MIRA”) has amended the Country-by-Country Reporting (“CbCR”) Regulation through its Third Amendment, thereby ending  the temporary suspension of filing requirements for Constituent Entities which are not the Ultimate Parent Entity (“UPE”) of their respective multinational (“MNE”) Group. According to Section 4(b) of the CbCR Regulation, these entities may now be required to file the Country-by-Country Reports for fiscal years ending in the year 2024 or thereafter.

For context, it is important to note that CbCR filing obligations typically apply to MNE groups resident in the Maldives, with the responsibility generally resting on the UPE of the group resident in the Maldives. However, under  specific conditions, this requirement can extend to Constituent Entities within the group that are resident in the Maldives. Notably, MNE Groups with  consolidated group revenues below EUR750 million are exempt from this requirement.

CTL Strategies ranked in the Chambers Global Guide 2024

CTL Strategies has been ranked in the Chambers Global Guide 2024, published by Chambers and Partners. 

The new edition of the Global Guide highlighted CTL for its considerable market respect in tax  matters, and demonstrating strength in litigation and corporate services. Among responses received from interviewees, Chamber and Partners quoted that the firm is “able to handle complex matters and provide unbiased legal advice.”

Chambers and Partners is an independent research firm that operates in 200 jurisdictions and is commonly referred to as the “gold standard” in the legal profession. Chambers and Partners publishes rankings and information on the world’s top lawyers and law firms. In-depth interviews with lawyers, in-house counsel for clients, and independent experts were used to compile the rankings.

The firm’s Managing Partner Ali Naeem maintained his Band 2 ranking in the Global Guide as a notable practitioner in Maldives. Mr Fathuhulla Ismail – Partner and Senior Counsel has also been ranked as Up and Coming for two consecutive years.

This marks the firm’s fourth consecutive year of recognition in Chambers Global Guide within the General Business Law category. We thank our team and our clients for their continuous support.

Update

CTL Strategies ranked in Chambers Global Guide 2024

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Year In Review 2023

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